Find the Best Ethereum platform in the UK and Buy Ethereum with GBP!

We try our best to test every new Cryptocurrency service in the UK, rating them for security, cost and ease-of-use. Our rankings below show our opinion on what is the best Cryptocurrency service for buying - let us know how it goes!

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Why Buy Ethereum?

Use of cryptocurrencies is slowly overtaking use of conventional currencies; a trend which has seen emergence of various cryptos and consequently, dozens of online brokers and exchanges. Bitcoin’s exemplary performance has paved way for other cryptocurrencies including ethereum. Ethereum system was coined by Vitalik Buterin, a programmer doubling up as cryptocurrency researcher, in 2013 but the idea came to fruition in 2015. During presale, you could buy ethereum for about 632 USD (2000 ETH) but from what you can gauge today; ethereum has steadily grown to become one of the most popular cryptocurrencies in existence.

With a market cap of over $28 B, according to Coinmarketcap, Ethereum is the second largest cryptocurrency behind Bitcoin which has a market cap of $89B.Without doubt, Ethereum is a top-tier cryptocurrency which utilizes cutting-edge blockchain technologies. You can buy ethereum on any Ethereum exchange after which you can opt to either store it on the exchange or transfer to your personal wallet. If you are feeling like taking risks, you can even trade ethereum but you must make sure you are using one of the best ethereum brokers.

What Is Ethereum?

Simply put, ethereum is an open software platform that uses blockchain technologies. Similar to bitcoin, ethereum is a publicly distributed blockchain network. However, there are distinct differences between the two. For instance, bitcoin is a peer to peer electronic cash system and its block chain is used to track digital transactions whereas ether’s blockchain is designed to run code of any decentralized application.

How To Buy Ethereum

Buying Ethereum is made easy by the fact that there are dozens of exchanges in existence today. As a matter of fact; you can buy your first ether by following the steps outlined below.

1) Choose an exchange/broker

It is a no brainer that you have to first find yourself an exchange to access a platform from which you can trade ethereum. Choosing a broker to buy ethereum is arguably the most important decision you have to make and hence it is imperative to take your time; lest you fall prey to rogue brokers. You shouldn’t settle for a mediocre broker with limited payment options but you should find the best ethereum brokers who auger well with your financial vision.

Here at BestCrypto we have partnered with reputable online brokerage outfits which you can use to trade ethereum.

2) Complete identity checks

After registering with an exchange, you may be required to submit identification documents to be granted full access to the platform. In addition, you may be required to submit documents for proof of address. Worry not. They are just standard Know Your Customer and Anti-Money Laundering policies which must be enforced by an exchange. Please note that you may not be able to buy ethereum or to trade ethereum before passing the security checks.

3) Choose a deposit method

To be able to buy ethereum, you must make a deposit to your brokerage account. Payment methods offered by an exchange tend to differ from one exchange to another. Therefore, it is always upon you to do your due diligence before signing up with a broker. Best ethereum brokers offer a wide array of payments methods to facilitate seamless banking.

3) Buy ethereum

Once you have deposited enough funds into your account, you can go ahead and exchange the funds with the equivalent amount of ethereum. It is worth noting that the amount of ether you will get for your funds will depend entirely on the prevailing market price.

In conclusion, for an all inclusive trading experience, we always advice our readers to use only the best ethereum brokers to trade ethereum. Well, what are you waiting for? Select a broker that suits your financial needs and buy ethereum, or rather trade ethereum.

Frequently Asked Questions

What is a Crypto Currency?

Crypto Currency is a 'block chain' digital currency, created and stored electronically. It’s not centrally controlled, nor are crypto coins printed; instead, crypto coins are made by people and businesses through software that solves mathematical problems.

BitCoin, Ethereum & others, all belong to a sub-category of currency known as cryptocurrency. One of Crypto Currency's most notable features is that it’s completely decentralized. This means that its network is not controlled by any one institution. This makes a lot of people feel secure because it means that a large bank or institution won’t be able to control their wealth.

Why buy Crypto Currency?

This all depends on whether or not you believe that currency should be yours, or should be someone elses! Crypto Currency is taking steps to take power away from banks and give it back to the people. It's also a great time to buy as the majority of the market is still in a state of maturing - meaning you can buy in early and sell later at a much larger price.

What is the blockchain?

The blockchain, is actually just a huge, shared, public ledger where an entire Crypto Currency network is situated. All verified transactions are added to this blockchain, where everyone can see information pertaining to Crypto wallets and verify their balances. As no single person controls the blockchain, no one can hold power over it - making Crypto Currency very interesting indeed.

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Disclaimer: we earn commission from certain Cryptocurrency/trading service websites when a user finds our information useful and signs up to their service. We offer to compare, review and provide honest information about these Cryptocurrency/trading service websites because of this advertiser commission. Not all of the information is 100% correct as things are constantly changing - we do our best to keep up in order to ensure our reviews are as accurate and honest as possible. If you have any questions, please email us and we'll get back to you as soon as we can. Remember: Your capital is at risk.